Established Member
Posts: 11
Registered: ‎05-03-2009

Orchard secured card

I just recieved my Orchard secured card with a 200 dollar limit.  I activated the card today.  My sole purpose with this card is to begin establishing a positve history.  How exactly should I use this card?  Pay one bill per month with the card and then immediately pay it off?  Really need suggestions on how to use this card to get some good history established.  I opened it today and the statement closing day is on the 10th of each month.




Established Contributor
Posts: 832
Registered: ‎01-16-2008

Re: Orchard secured card

Charge whatever you like (within your $200 limit).  Then PIF or pay down to $5-6 before the statemet cuts on the 10th.  That way it will show that you are using your credit but maintaining a low balance.  And never, never be late.

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Moderator Emeritus
Posts: 32,880
Registered: ‎08-04-2007

Re: Orchard secured card

Also, OP, note that they have a weird reporting schedule and payment due date. All payments are due obviously by the due date. However, they request that the payment arrive by 4pm the business day prior to the due date. So, if the due date is on a Monday, they'd need it by Friday. You can pay online for a same day payment, but they'll charge an extra $12.95 to process that. Per reporting, they will report the balance you have on the last business day of the month. And they skip reporting from time to time (seems like they skip whenever I PIF).
Frequent Contributor
Posts: 282
Registered: ‎10-20-2008

Re: Orchard secured card

The Orchard secured card is odd in that it does not report the statement amount, it reports the balance on the last business day of the month.  So I would want to have less than 10% showing at the end of the month rather than on the statement date.  Use it as you desire, but go online and pay it down to like $10 before the end of the month.
Established Member
Posts: 11
Registered: ‎05-03-2009

Re: Orchard secured card

Thank you for the helpful information!

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